IBT Staff Reporter

Morgan Stanley Chairman John Mack, who has said Wall Street's high pay packages show that the industry is out of touch with mainstream America, is receiving a 150 percent base salary increase to $2 million.

Asia is one of the more interesting gas markets in the world. Places like Thailand and its southeast Asian neighbors have seen phenomenal demand growth over the last several years. Total has said they're in Thailand for gas. (Part of the reason I believe Thai shale gas may become an interesting play over the coming years.)

The financial world is coming unglued again. Greece has pushed the E.U. to the brink. Global stock markets are tumbling. And yet, at the same time at least one economic indicator is soaring. The Baltic Dry Index. Today, the BDI jumped nearly 9%. The largest daily jump in at least the last six months.

An interesting chart from the Bank of Japan's latest monthly economic report. Japanese capacity utilization is way down. Around 20% of manufacturing facilities are standing idle. This is an improvement from the beginning of 2009, when 35% of capacity was shut down. But a marked decrease from pre-financial-crisis levels, when there was almost no excess capacity to be found.

Giants and upstarts of publishing gathered at the annual BookExpo America here this week agreed e-books will transform the business, although exactly how it will all shake out remains unclear.

Fans mobbed Apple Inc stores in Europe and Asia as the iPad went on sale outside the United States on Friday, with some shoppers having queued all night to buy one of the coveted tablet computers.

Ford Motor Co sees great options to improve its balance sheet and return to investment grade credit rating as its financial results continue to strengthen, Chief Executive Alan Mulally said on Friday.

U.S. consumer spending unexpectedly stalled in April after six straight months of gains, but rising income and consumer confidence pointed to solid consumption this quarter.

The House of Representatives on Friday passed a scaled-back economic-stimulus package of tax breaks and safety net spending that would raise taxes on fund managers and multinational corporations.

Stocks fell on Friday, capping off their worst month in over a year as a downgrade by Fitch of Spain's credit rating reignited worries about euro-zone debt issues.

Stocks ended lower on Friday, capping off their worst month in over a year as a downgrade by Fitch Ratings of Spain's credit rating reignited worries about euro-zone debt issues.

France's Renault SA and India's top utility vehicle maker Mahindra are in the running to buy troubled South Korean SUV maker Ssangyong Motor, sources said on Friday, in a deal worth up to $500 million.

Daimler's passenger car division Mercedes-Benz Cars expects operating profit to reach the upper end of its forecast this year and aims to boost profitability to 10 percent of sales by the second half of 2012.

Honda Motor Co is still trying to resolve a labor dispute at a China parts plant that led to the closure of all four of its car plants in the country and has no timetable for resuming production, a company spokesman said on Friday.

As production levels remain robust, the company will recruit about 350 new workers starting this July, the business daily said.

General Motors will develop electric car technology for the Indian market in its home town of Detroit, after ending a partnership with Indian firm Reva, the head of its operations in the country said.

(Reuters Health) - A small new study has found that taking soy supplements may help postmenopausal women slim down.

Fitch cut Spain's credit rating by one notch on Friday, sending markets lower and capping a horrible week for a government struggling to convince investors it can solve its economic woes and avoid a Greek-style debt crisis.

Fitch Ratings cut Spain's credit ratings to AA+ from AAA on Friday, saying its economic recovery would be more muted than the government forecast, pushing world equities and the euro lower.

HSBC's executive pay policy got a grudging green light on Friday, along with a stinging rebuke from one of its top investors, as Europe's biggest bank said it was bracing for further economic shocks.

A U.S. federal judge on Friday gave Toyota 30 days to turn over the bulk of documents sought by class-action lawyers from previous investigations of complaints about its cars racing out of control.

Stocks fell 1 percent on Friday, extending earlier losses as a downgrade by Fitch Ratings of Spain's credit rating reignited worries about euro-zone debt issues.

As Wal-Mart Stores Inc employees chant the corporate cheer at the company's annual meeting this year, Wall Street is less enthusiastic about the retailer's U.S. sales trailing a fitful economic recovery.

Consumer spending unexpectedly stalled in April after six straight months of gains, but rising income and consumer confidence pointed to solid consumption this quarter.

The House of Representatives on Friday was to vote on a reduced package of safety-net spending and tax measures that would raise taxes on fund managers, but it likely was too late to avoid disrupting jobless benefits for hundreds of thousands of Americans.

Shares of CKX Inc jumped by a third of their value Friday, a day after The Wall Street Journal reported American Idol creator Simon Fuller and former Barclays Capital top dealmaker Roger Jenkins are planning a $600 million bid for the company.

Fitch Ratings cut Spain's credit ratings to AA+ from AAA on Friday, saying its economic recovery would be more muted than the government forecast due to strict austerity measures passed this week.

Fitch Ratings cut Spain's credit ratings to AA+ from AAA on Friday, saying its economic recovery would be more muted than the government forecast due to strict austerity measures passed this week.

Berkshire Hathaway Inc confirmed on Friday that Warren Buffett will testify under subpoena before a U.S. panel examining the causes of the 2008 financial crisis.